I wouldn't get too excited just yet. The same thing has happened...

I wouldn't get too excited just yet. The same thing has happened before on the 22nd Feb and 22nd Dec where there was a big drop one day and then immediate return the next.

Why it seems suspicisious to me and similiar to the other times it has happened:

• Looking around at other highly shorted stocks, quite a few have uncharacteristically large drops. This is the biggest sign.
• Subsequently the rank stayed the same. You would expect with such a big drop we wouldn't be 5th anymore.
• I'm not sure that there has been enough volume in the time period to close that many shorts. Was there large off market transactions?

Now I don't know enough about the logistics of shorting to explain why this happens. Is it an error in the ASIC reporting? Or is there some type of closing and reopening going on?

If the T+4 report from today shows circa 700 mil shorts then that will confirm this movement